Omaha daily bee., 1887-06-30
THE SPECULATIVE MARKETS
Foreign Money and Easy Buying Combine
To Stimulate Confidence.
WHEAT STILL DULL But STEADY
Corn Suffers a Decline I'm Prices on
Reports of Rains-Oats Lower
in sympathy-Generai
Quotations.
CHICAGO PRODUCE MARKET.

CHICAGO, Juue 29-[Special Telegram to
the BEE. What was dull to-day, but not
altogether feaureess. Yesterday carriers
and bears were predicting that July would
be selling at discount OF &c under
August Instead of the difference widening,
as anticipated 1t narrowed, and what charg-
ing over was done to-day was dohe on
basis of 2s6Cl2tlc most of the business being
done at the inside. Parties who were in
tending to carry wheat but who wanted 70
make 1900 per cent, were to-day unable to
get In OH terms as advantageous as they
could have made yesterday. The competi-
ton among carriers kept July wheat firm to-
day aud advanced the price after the first
halt hour. Hutchinson was by all means
the largest buyer of July, and the strength
developed in that month buoyed up the whole
market 1t is now clearly seen that
there will be no lack of funds
to care for wheat that will
be delivered out OH July contracts. The
same is also true with regard to corn and
provisions. Rarely has it been possible OF
late years to place midsummer loanable
funds so advantageously as now. This fact,
coupled with the information that foreigners
were again in New York as buyers, served
to impart better tone to the general market
and to stimulate public confidence. July
ranged from 69Skc at the opening up to 7O1sc.
and at l o'clock rested at roc with August
quoted at 72llc, September at 745Sec, and De-
cember at 791401793Sc. The range on August
was 7201721Sc, on September 741tnHl4c low
and 749sc high. AT no time during the
morning was there special excitement in the
pit. Tie foreign markets were quoted as
quiet and steady.
Corn futures reacted sharply to-day, there
being decline during the regular session OF
,t,,lr taA itNfp
prices were lower on reports of rain over
large areas of the corn belt At the first in.
dicaton OF weakness parties who had bought
rather freely early In the week on dry
added to the depression and the closing figures
were practically at the bottom, the local tenn
per being quite bearisn ssI At o'clock. July
sSc to 5SgsSc. aHa There were oYar large otfer,
ings by the July longs, Irwin, Green & Co.
being among the heaviest sellers in that fu-
Oats were offered more freely for forward
delivery to-day. and AS most OF the, shorts
bad already filled there was less demand
from that quarter. For this reason, and in
were lower. Up to ! o'clock the actual
shrinkage was 1641sc, July closing at 26c,
August at 1898 @s6j4c, and September at 2o9l
@265Sc.
Provision traders experienced rather slow
day.. General trading was considerably
smaller than yesterday, and in the active
lnes-lard and short iibs--the bulk of busi-
ness transacted consisted, aside from little
scalping trading, of changes from near to
later months or settlements, preparatory tor
the proposed holiday recess. In lard July
contracts were changed to seller August at a
difference of l21S9l5c. and in short ribs gen.
orally at 15c. The difference between later
months In both articles was 1Oc as rule.
Pork was nominal at S22 10 for cash and
June and $11 .00@11.50 for the year. Short
ribs received more attention from traders
than lard, and the favOrite deliveries for both
were again August and September. Prices
showed an easier tendency, and in short ribs
decline amounting to l5c was suffered, and
in lard 21Sd5c.
AFTERNOON SEssIoN.-Wheat was ashade
easier; June closed at 691<c, July at 6911sc bid,
August at 7214@72ssc, september at 741ac:
Corn was quiet. Oats were fairly active and
frmer; June about 25%c, July 251Sc bid, Au
gust 261lc asked. Pork sold for June dslv
ery-one $50 barrel lot-at s20.75. The house
In control, however, quoted the market al
822.0O with other deliveries nominal. LarC
was strong. closing at $6.S7H bid for July
S6.5OQ18. 52x for August, $6.6O46.62H fol
September. Short ribs were SC higher; Jul,
clesad at $40. August al c7.55 and Septem
Der ut S7.65